Construction Payment Glossary
The construction industry uses unique language that can be confusing, especially when payment disputes or other legal issues arise. This glossary contains simple definitions for terms and phrases commonly used in the construction payment process to help you navigate the law, protect your payment rights, and get paid faster on every job.
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C
- Cardinal Change
- Certified Mail
- Certified Mail Return Receipt Requested
- Certified Payroll
- Change Directive
- Change Order
- Claimant
- Conditional Lien Waiver
- Condo Lien
- Consequential Damages
- Construction Notice
- Construction Trust Fund
- Contingent Payment
- Continuation Sheet
- Cost-Plus Contract
- Credit Policy
- Critical Path Method (CPM)
P
- P3 Project
- Pay-If-Paid Clause
- Pay-When-Paid Clause
- Payment Application
- Payment Bond
- Percentage of Completion Accounting
- Performance Bond
- Pre-Lien Notice
- Preliminary Notice
- Prevailing Wage
- Prime Contractor
- Principal
- Privity of Contract
- Pro Se Legal Representation
- Progress Payment
- Promissory Note
- Prompt Payment
- Property Title
- Public Entity
- Public Works Project